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Private Indian Firms Look to Build 10 GW of Coal Power Capacity

Private Indian Firms Look to Build 10 GW of Coal Power Capacity

Mar 05, 2024 at 09:43 | Charles Kennedy

Following six years of no major private sector coal power capacity buildout, major private Indian power firms are now vying to install at least 10 gigawatts (GW) of coal-fired capacity…

Africa’s Richest Person Wants to Create a Trading Firm for Its Biggest Refinery

Africa’s Richest Person Wants to Create a Trading Firm for Its Biggest Refinery

Mar 05, 2024 at 08:56 | Charles Kennedy

Aliko Dangote, the owner of Africa’s largest refinery and Africa’s richest person, is looking to set up a trading firm that would handle crude supply for the new mega refinery…

Investors Set Up $1.3-Billion Fund for Energy Infrastructure in Southern Africa

Investors Set Up $1.3-Billion Fund for Energy Infrastructure in Southern Africa

Mar 05, 2024 at 08:10 | Tsvetana Paraskova

Climate Fund Managers, a fund manager focused on climate, is launching a $1.3-billion energy fund to finance cross-border energy transmission infrastructure in Southern Africa, aimed at strengthening the power grid.…

Turkish Port Halts Russian Oil Imports Amid Sanctions Pressure

Turkish Port Halts Russian Oil Imports Amid Sanctions Pressure

Mar 05, 2024 at 07:17 | Tsvetana Paraskova

A Turkish oil terminal on the Mediterranean will stop importing Russian oil amid intensified U.S. sanctions pressure on Moscow’s exports, the terminal’s operator told Reuters on Tuesday. Global Terminal…

Spain Calls for Coordinated Action to Reduce EU Imports of Russian LNG

Spain Calls for Coordinated Action to Reduce EU Imports of Russian LNG

Mar 05, 2024 at 06:42 | Tsvetana Paraskova

Spain is seeking a tougher EU-wide coordination on handling imports of Russian LNG, Spanish Energy Minister Teresa Ribera told Bloomberg in an interview published on Tuesday.    The EU…

Oil Trader Vitol Looks to Buy 90% of  Italy’s Largest LNG Terminal

Oil Trader Vitol Looks to Buy 90% of Italy’s Largest LNG Terminal

Mar 05, 2024 at 04:45 | Tsvetana Paraskova

A company backed by the world’s biggest independent oil trader, Vitol, is nearing a deal to buy a 90%-plus stake in Adriatic LNG, Italy’s largest import terminal, from ExxonMobil and…

Geopolitical Risk and Chinese Demand Could Boost Oil Prices

Geopolitical Risk and Chinese Demand Could Boost Oil Prices

Mar 05, 2024 at 03:21 | Charles Kennedy

Bullishness is returning to the oil industry, with prices set to go considerably higher in case the conflict in the Middle East escalates, RBC’s Helima Croft told

Tellurian Plans to Make a Final Investment Decision on Two LNG Trains in 2024

Tellurian Plans to Make a Final Investment Decision on Two LNG Trains in 2024

Mar 05, 2024 at 02:32 | Irina Slav

Tellurian eyes the final investment decision for the first two trains of its Driftwood LNG plant before the end of this year. The news comes soon after the Federal Energy…

China Will Attempt to Cut the Energy Intensity of Its Economy in 2024

China Will Attempt to Cut the Energy Intensity of Its Economy in 2024

Mar 05, 2024 at 01:35 | Charles Kennedy

China will seek to reduce the energy intensity of its economy by 2.4% this year, Bloomberg has reported, citing a government document. “As the economy continues to recover…

WTI Sheds Over 1.6% As Demand Trumps Everything Else

WTI Sheds Over 1.6% As Demand Trumps Everything Else

Mar 04, 2024 at 13:55 | Charles Kennedy

Oil prices shed over 1% on Monday despite rising tensions in the Red Sea and on the front lines of the Israel-Hamas conflict, with OPEC+ extending voluntary production cuts and…

Exxon, Petronas Set to Extend Exploration Offshore Suriname

Exxon, Petronas Set to Extend Exploration Offshore Suriname

Mar 04, 2024 at 13:53 | Charles Kennedy

Exxon and Malaysia’s state-run Petronas will extend exploration for a gas discovery off the coast of Suriname, the country’s national oil company, Staatsolie, said on Monday.  Eyeing a repeat of…

UK Set to Extend Oil & Gas Windfall Tax This Week

UK Set to Extend Oil & Gas Windfall Tax This Week

Mar 04, 2024 at 11:21 | Charles Kennedy

The UK windfall tax on energy firm profits is expected to be extended by another year to 2029 this week during the annual budget speech later this week, Reuters reported…

Low Refining Capacity and Sanctions Responsible for Russia’s Oil Output Cuts

Low Refining Capacity and Sanctions Responsible for Russia’s Oil Output Cuts

Mar 04, 2024 at 09:53 | Charles Kennedy

Russia’s announcement that it would focus on cuts to oil production instead of exports in its voluntary supply reduction within OPEC+ in the second quarter could be the result of…

India Expects $5 Billion Investment in Natural Gas Pipelines in North

India Expects $5 Billion Investment in Natural Gas Pipelines in North

Mar 04, 2024 at 08:53 | Charles Kennedy

India expects companies to invest nearly $5 billion in a network of natural gas pipelines in its northern and northeastern states and federal territories, including Kashmir, India’s Minister for Petroleum…

The EU Wants Fossil Fuel Firms to Contribute to Climate Fund

The EU Wants Fossil Fuel Firms to Contribute to Climate Fund

Mar 04, 2024 at 08:47 | Charles Kennedy

Oil and gas companies could be a source of additional funding for a UN climate financing to help developing economies cope with the consequences of climate change, according to a…

Energy Commissioner: EU Can’t Close Border to Solar Panel Imports

Energy Commissioner: EU Can’t Close Border to Solar Panel Imports

Mar 04, 2024 at 07:16 | Tsvetana Paraskova

Despite the struggles of the EU solar manufacturing industry faced with cheap Chinese panels, the bloc cannot close its borders to cheap solar imports, according to European Commissioner…

U.S. Northeast Gasoline Reserve Could Be Sold Off

U.S. Northeast Gasoline Reserve Could Be Sold Off

Mar 04, 2024 at 06:57 | Tsvetana Paraskova

The U.S. could sell off its 1-million-barrel Northeast Gasoline Supply Reserve in the fiscal year of 2024, a funding bill up for discussion at U.S. Congress says.…

Top U.S. Natural Gas Producer EQT Cuts Production Amid Low Prices

Top U.S. Natural Gas Producer EQT Cuts Production Amid Low Prices

Mar 04, 2024 at 06:12 | Tsvetana Paraskova

EQT Corporation, currently the largest U.S. natural gas producer, said on Monday it would strategically curtail output in March in response to low benchmark natural gas prices in America.…

UN Watchdog Calls On Development Banks to Finance Nuclear Projects

UN Watchdog Calls On Development Banks to Finance Nuclear Projects

Mar 04, 2024 at 05:04 | Tsvetana Paraskova

International development banks that have shunned funding for nuclear power generation projects for decades, need to overcome opposition from some stakeholders and begin backing such plants, Rafael Mariano…

Houthis Threaten More Red Sea Attacks

Houthis Threaten More Red Sea Attacks

Mar 04, 2024 at 02:53 | Irina Slav

The Yemeni Houthis have said attacks on ships in the Red Sea will continue, saying they will target British-linked vessels. The announcement follows the sinking of the Rubymar on Saturday.…

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